AIH Foundation, Italy's Penknife team up for smart medical care push

The AIH Foundation, a Singapore-headquartered medical equipment management agency, has signed an agreement with Penknife Investment Srl, an Italian association that introduces the country's high-tech enterprises to China, to co-develop smart medical wearable devices with embedded graphene sensors.

The foundation will work with the University of Pisa. Their cooperation will entail an investment of about 100 million yuan ($14.5 million), which will be raised from crowd-funding platforms and institutional investors, the AIH Foundation said.

The foundation has a research and development center in Shenzhen, Guangdong province. The project-related R&D work is expected to finish by next year, to be followed by large-scale production. The products will be sold globally, and China will serve as a major market.